Central Puerto sells AbraSilver stake for CAD 228.4M

Argentine power generator Central Puerto announced on Wednesday, 16 September, that it sold its entire stake in Canadian mining firm AbraSilver for 228.4 million Canadian dollars.

In a filing sent to Argentine markets, the company stated that after reviewing its investment, it concluded that the holding in AbraSilver was no longer strategic. Central Puerto divested 100% of its shares in the Canadian miner without disclosing the identity of the buyer.

Central Puerto had acquired a minority stake in AbraSilver in April 2024 for 35.7 million Canadian dollars, equivalent to 25.3 million US dollars at current exchange rates. The sale generated a gain of 192.6 million Canadian dollars.

Following the transaction, Central Puerto's board resolved to pay an extraordinary cash dividend to shareholders using the proceeds. AbraSilver's key assets include the Diablillos silver and gold project in northwestern Argentina.